Strive Goes Double or Nothing: REX Drops 2x Leveraged ETF on a Bitcoin Hoarding Public Company 🪞

REX Shares and Tuttle Capital Management introduced a new leveraged exchange-traded fund tied to Strive, a publicly traded Bitcoin treasury company and asset manager, with trading beginning Friday on Cboe under the ticker ASSX. The T-REX 2X Long ASST Daily Target ETF seeks to deliver 200% of Strive's daily share-price performance before fees and expenses.

The fund resets its leverage daily, a structure that means returns over periods longer than one trading day can differ significantly from twice the performance of Strive shares. Unlike spot Bitcoin ETFs, ASSX does not hold Bitcoin or seek to track its price, instead providing leveraged exposure to Strive's equity. REX and Tuttle also offer 2x ETFs linked to Strategy, BitMine, Cipher Mining, Circle and SharpLink.

Strive currently holds 25,000 Bitcoin, making it the fifth-largest publicly traded corporate Bitcoin holder according to BitcoinTreasuries.NET data. The company financed its most recent 469 BTC purchase through sales of SATA, its perpetual preferred stock.

Strive shares rose 6.4% on Friday to close at $30.09, slightly above the $29.40 average 12-month price target among analysts tracked by S&P Global.